Jan 29, 2015 (LBO) – Sri Lanka Minister of Finance Ravi Karunanayake said that the economy in the island is a sad state and could be restructured though proper mechanism. He said this presenting the interim budget 2015 to the parliament.
The main aim of the Government is to revitalise this economy, Ravi Karunanayake, Minister of Finance said.
The stock exchange became a laughing stock during the previous administration,
The economy is in a sad state, the good news is it can be resurrected. He said.
He said the hedging deal of the Ceylon Petroleum Corporation had cost 120 million US dollars to the Government.
He added, if the previous administration continued with their economic policies for several more years Sri Lanka would have been classified as a failed state.
Karunanayake said the total debt of the country is over 8800 billion rupees in the end 2015 and per capita debt at 42, 7220 rupees.